Banks

Blackstone has bought 9.9% of India’s Federal Bank and a stake in India’s Ace Insurance Brokers.

Gyungmin Kim is replacing Jeyhyung Rhee who is leaving the bank, while Minjib Kim will support him as a director.

Deutsche Bank has appointed Cora Chiu as head of investment management, North Asia, to replace Cedric Ko.

Singapore-based Ivee Tan takes on the export credit agency and multilateral financing solutions role; she most recently worked at Sumitomo Mitsui Banking Corporation as renewables and sustainable energy director.

After a deluge of defaults, a new state-owned bank called United Islamic Bank is set to emerge out of the five banks, with the plan to privatise them over time.

Hari Janakiraman, head of industry and innovation, transaction banking at ANZ, discussed legal frameworks, digital standards and tokenisation pilots, including Australia's Project Acacia, with FA in an exclusive interview.

After over six years with the infrastructure investment bank, Cross will take up a senior leadership role at another institution outside of Asia.

Citi Commercial Bank in India has appointed Kannan as head of digital, technology, communication, business & professional services and industrials; he will join in December and has worked at JP Morgan for over 15 years.

The HK$155 a share offer is a 33% premium over Hang Seng's 30-day average closing price; HSBC already owns 63% of the HKEX-listed bank. Hang Seng's after tax profits declined 30% in H1 2025. HSBC has paused buybacks.